1. Free Application for Federal Student Aid
2017 Financial Aid =
Free Application for Federal Student Aid

2. FINANCIAL AID What is financial aid? From where does it come?
What kind of assistance is available?
Who is eligible?
How do I apply?
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3. FDR = Acronyms=Financial Aid
EFC
SAR
CPS
FAFSA
SSG
IRS

4. Goal of Financial Aid
Primary goal is to assist students in paying for college and is achieved by:
Evaluating family’s ability to pay for educational costs
Distributing limited resources in an equitable manner
First-Come, First-Serve Principle
Providing a balance of gift aid and self-help aid

5. What is Financial Aid? Scholarships Grants Loans
Employment opportunities
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6. - Expected Family Contribution (EFC)
Definition of Need
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
= Financial need
(There can be unmet need.)

7. Expected Family Contribution
Data is used to calculate the Expected Family Contribution (EFC) by looking at income, assets, and size of family to determine family’s ability to pay for education.
The EFC is a code not a dollar amount in determining how much money the parent must pay toward education. Usually code and dollar amount are the same.

8. EFC for Dependent Student
Parent contribution from income and assets (as adjusted, if more than one household member in college)
Student contribution from available income and assets
EFC (colleges are allowing loans to help meet EFC)
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9. Cost of Attendance
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10. Cost of Attendance Tuition and fees Room and board
Books and supplies, equipment, transportation, and miscellaneous personal expenses
Loan fees
Expenses related to a disability, if needed
Go to each college’s website and in the search box type “Net Price Calculator”
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11. $ Cost of College 2015-2016 $ $45,081 $34,237 $8,794 $950 $1,100
Total Cost
Tuition Fee
Room & Board
Books & Supplies
Personal
St. Norbert College
$45,081
$34,237
$8,794
$950
$1,100
University of Michigan
$27,812
$13,856
$10,554
$1,048
$2,354
Michigan Tech University
$27,667
$14,286
$9,857
$1,200
$2,334
Central Michigan University
$22,922
$11,850
$9,088
$1,000
$984
Michigan State University
$26,048
$13,560
$9,524
$1,060
$1,896
Ferris State University
$22,284
$10,970
$9,434
$914
$1,120
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12. $Cost of College 2015 – 2016$ $23,548 $11,029 $9,238 $938 $2,343
Total Cost
Tuition Fees
Room & Board
Books & Supplies
Personal
Western Michigan University
$23,548
$11,029
$9,238
$938
$2,343
Grand Valley State University
$22,263
$11,363
$8,360
$700
$1,840
Northern Michigan University
$21,306
$9,620
$9,286
$730
$1,670
Bay College
$15,106
$7,374
$5,530
$1,200
$3,916
UW-Marinette
$6,164
$5,144
N/A
$1,020
$1650
NWTC-Green Bay, Marinette
Depends on Program
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13. FAFSA (fafsa.gov) Can submit on October 1, 2016. Use completed 2015
Tax Forms.
No Fees!!!
NOT fafsa.com

14. FAFSA: Free Application for Federal Student Aid
Initial step in the application process
Only document to apply for financial aid
Used to calculate an Expected Family Contribution (EFC)
Confirms certain eligibility requirements

15. General Eligibility Requirements
Must have graduated from high school with a diploma or passed the GED or homeschooled.
Must be enrolled full-time or accepted for enrollment in an eligible program of study
Must be pursuing a degree, certificate, or other recognized credential
Must be U.S. citizen or eligible non-citizen
Must be registered with Selective Service (if male and required to be)
May have eligibility suspended or terminated due to a drug-related conviction

16. General Eligibility Requirements (continued)
Must use your full legal name as it appears on the Social Security card.
Must have a valid Social Security number
May not be in default on a federal student loan
May not owe repayment of federal grant
Must be making satisfactory academic progress as defined by the school

17. Selective Service Registration
Most males must be registered
Call for information
Register online at or via FAFSA.

18. FSA ID (Replaces PIN)
Make an FSA ID now. Both the parent and the student must make FSA ID’s.
Takes 1-3 days to verify info before you can use this on the FAFSA.
Go to to make the FSA ID.
Write down the FSA ID and keep it somewhere for future reference.
When creating the FSA ID, check “Show Text” to see what you are typing.
If have a PIN, you can link the FSA ID to the existing PIN.

19. Types of FAFSA’s
The FAFSA is available in two formats- FAFSA on the Web and paper.
FAFSA on the Web is the recommended way to apply.
Paper FAFSA forms ( ) will be available to print online at
FAFSA on the Web is a faster and more accurate way to apply. The web address is or

20. Reasons to File Electronically
Built-in edits to prevent costly errors.
Skip-logic allows student and/or parent to skip unnecessary questions.
More timely submission of original application/corrections.
More detailed instructions and “help” for questions.
Ability to check application status online.
I.R.S. Data Retrieval feature (IRSDRT)

21. I.R.S. Data Retrieval
Parents/Students must have completed their tax returns for 2015.
Securely transfers data from tax information to FAFSA, if all completed online.
Takes time to upload tax information to FAFSA. Wait approx. 3 weeks from electronic submission of taxes to use IRS DRT function with FAFSA.
Talk to accountants/tax preparers

22. Tax Return Transcript
If using the IRS Data Retrieval tool, you won’t have to obtain a tax return transcript from the IRS. Chances are fewer that you will be selected for verification from the college.
All others have to provide the college with a tax return transcript.
Call or go to to complete and return IRS Form 4509-T to request a tax return transcript.
Unable to provide the college with just a copy of your completed tax returns.

23. Tips for Students Apply for admission to college/university
May submit FAFSA as soon as 10/1/2016
MI Deadline: Must be received by ?????
Final eligibility for aid is made by the college, not the federal government.

24. Step 1: Before Beginning your FAFSA
Gather all the documents and information you need.
Complete your FAFSA on the Web Worksheet
Apply for a FSA ID for both student and parent to use in signing your FAFSA.

25. FOTW (FAFSA on the Web) Worksheet
Families can use time wisely by completing a worksheet before accessing the FOTW (FAFSA on the web).
Available on website-

26. Step 2: Filling Out the FAFSA
Complete all information requested:
Step 1: Student’s demographic information
Step 2: Student’s financial information
Step 3: Dependency status questions
Step 4: Parent financial information
Step 5: Independent Student household information
Step 6: List of colleges to receive results
Step 7: Signatures and certifications
Step 8: Save your FAFSA to finish later, if needed.
Step 9: Sign electronically with your FSA ID.
Step 10: Save and Print a Copy of your FAFSA.

27. Electronic Signatures
Students and parents can request and receive a FSA ID now, in advance, of completing FAFSA on the Web. The web address is
Dependent student applications will not be processed unless accompanied by both student and parent signatures or FSA ID numbers.
The FSA ID also allows students to check loan balances, correct addresses, etc., and request a duplicate Student Aid Report (SAR)

28. Without Electronic Signature
Print signature page and submit within 14 days.
If signature page is not received by Central Processing System (CPS) within 14 days, student receives rejected Student Aid Report (SAR)
Rejected SAR must be signed and submitted to CPS

29. Certification
Certification page will require students to agree not to disclose their FSA ID to anyone.
Parents with multiple children in college will be able to transfer their information to other son’s/daughter’s FAFSA applications by using their FSA ID and social security number.

30. Step 3: FAFSA Follow-up Check status of a submitted FAFSA
Add another college to receive results.
View and print your Student Aid report (SAR) when available.
Make corrections to your processed FAFSA, if needed.

31. Student Aid Report (SAR)
The SAR summarizes the data on the FAFSA as well as the federal calculations and is sent to the applicant for review and corrections, if needed.
It displays the official Expected Family Contribution (EFC) in the upper right-hand corner. It is a code, not a dollar amount.
If there is an * by the EFC, you will be selected for verification. The college will request you to provide to them certain documents. All documents must be received for you to get your financial aid.
Student will receive notification containing a direct link to student’s SAR on-line if student’s address was provided. If no address was given, a paper copy will be sent through the mail.

32. Common Mistakes
Reporting an incorrect social security number, date of birth, or name.
Use LEGAL names-first, middle, last.
Listing divorced and remarried parent information incorrectly, if applicable.
Reporting income earned by parents or step-parent incorrectly.

33. Common Mistakes (continued)
Listing income tax withheld instead of actual tax paid.
Missing deadlines such as the state of Michigan deadline (????? for high school and college students) This is date of receipt. Complete on-line or mail at least 1 week earlier to be safe.

34. Who is the Parent? (for Dependent Students)
If the parents are both living and married to each other or if both parents are living together and not married, answer the questions about both of them.
If the parent is widowed or single, answer the questions about that parent only. If the widowed parent has remarried as of today, answer the questions about that parent and the person to whom the parent married.

35. Who is the Parent? (cont.)
If the parents have divorced or separated, answer the questions about the parent the student lived with most in the last 12 months. If the student did not live with one parent more than with the other, answer about the parent who provided the most financial support during the last 12 months or during the most recent year that the student was supported by a parent. If this parent has remarried as of today, answer the questions about both that parent and the person to whom the parent is married.
If the parent is widowed or divorced and has remarried, answer the questions about both that parent and his or her current spouse. The marital status of the student’s parents in this case is “married/remarried.”
Same sex couples who are married also have to report both incomes. (Defensive Marriage Act)

36. Special Circumstances
If a student’s parents are separated and can provide proof that they have maintained separate households for 6 months prior to the filing of the FAFSA, the situation will be viewed as if the parents are divorced. In that case, only the financial information of the parent with whom the child resides will be considered. College/s will ask for documentation! Call the college prior to filing the FAFSA for additional information and clarification.

37. Residing w/Grandparent/s
If a student resides with her/his grandparents, the student needs to contact the college/s for clarification of the situation. If the parent is still living, has any contact with the student, and has legal custody of the student, then the parent’s financial information must be used. If the grandparents’ are the legal guardians, then the student may be considered independent or the grandparents’ financial information might be used.

38. Independent Student Definition
At least 24 years old by December 31st of the award year covered by the FAFSA;
Graduate or professional student;
Married;
Has legal dependants other than a spouse;
Orphan or ward of the court;
Homeless as defined by the Fed. Gov’t.
Veteran of the U.S. Armed Forces; or
Determined to be independent by the college financial aid administrator based on unusual circumstances.
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39. Unusual Circumstance
For most students and families, the FAFSA fairly represents their financial situation. In some cases, however, the Financial Aid Office at the college can use additional information to adjust data and more accurately assess the family’s ability to pay

40. Examples of Unusual Circumstances
Students who do not meet the definition of an independent student but who should not be expected to use their parents’ information
Parents who attend college at least half time and pay their own expenses.
Loss of employment
High unreimbursed medical expenses
Parents and students can contact the college’s Financial Aid Office to discuss unusual circumstances and how they may affect application data.

41. McKinney-Vento Act
Students who have been determined as “homeless” by the school liaison are eligible to be declared “independent” for purposes of FAFSA completion.
Questions on the FAFSA address this issue.
Parent/s income information isn’t needed to complete FAFSA.

42. RECENT CHANGES…
The FAFSA form will have a direct link to the IRS website. If your taxes are completed online, the information from the IRS form will auto populate the FAFSA form (IRS Data Retrieval-IRSDRT).
FSA ID replaces the PIN for signature.
New regulations will affect students who are not making Satisfactory Academic Progress.
“Net Price Calculator” must be on every college’s website.
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43. TWO CATEGORIES OF AID
MERIT-BASED/GIFT Aid (grades, ACT scores, PSAT scores)
NEED-BASED Aid (financial picture)

44. Gift Aid Grants Scholarships Federal Pell Grant State Institutional
Private
Scholarships
Federal
State
Institutional
Private
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45. Federal Pell Grant Program
Awarded to eligible undergraduates pursuing first bachelor’s degree
Portable
Actual awarded amount based on Cost of Attendance, Expected Family Contribution(EFC), and enrollment status.
Up to $5,775 per year (15-16).
maximum award to be determined.

46. Tuition Incentive Program (TIP): Eligibility Criteria
Medicaid eligible 24 months out of 36 consecutive month period
Meet requirement between 6th grade and high school graduation (or GED)
Student must complete application before high school graduation (applications sent to all students accumulating required months of Medicaid)
Initiate use of TIP within 4 years of graduation or GED
Phase 1 pays tuition & fees in an Associate Degree Program (Associate Programs can bridge to Bachelor’s Degree Programs)
Must enter specific program per college.
Only certain colleges use TIP.
Phase 2 pays up to $2,000 for 3rd and 4th year
MHS Counselors have a list of students who are TIP eligible.
If you think your son/daughter may qualify, check with MHS counselor, first. Then contact the Student Scholarships and Grants office at GRANTS ( ), if not listed with the counselor.
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47. Children of Soldiers-Iraq and Afghanistan Service
Maximum Federal Pell Grant eligibility for a student whose parent/guardian was a member of the Armed Forces and died as a result of performing military service after 9/11/2001, provided that child was under 24 years old or was enrolled in college at the time of the parent/guardian death.

48. TEACH Grant Be enrolled in the TEACH Grant Program.
Pursuing/declared career in teaching.
Meet academic achievement rqmts.
Receive $4000 per year.
Meet and Sign “Agreement to Serve” contract

49. Health Professions
The U.S. Dept of Health & Human Services administers a number of financial aid programs for students interested in health profession careers.
For more information, visit or

50. Michigan Competitive Scholarship
Class of 2017 Eligible
Based on BOTH financial need per FAFSA and ACT Score (Composite=23 or sum of 90 OR SAT Score of 1200)
MHS sent information to OSG (Office of Scholarships & Grants) in December on students who may qualify.
$ maximum (public); $1,830(private)

51. Michigan Tuition Grant
Based on Financial Need ONLY.
FAFSA is the source of analysis.
Available at independent, non-profit institutions, only.
$1,830 maximum

52. Children of Veterans Tuition Grant (CVTG)
Natural or adopted child of veteran who is permanently and totally disabled or deceased due to service connected causes, or is listed as missing in action in a foreign country.
Pays up to $2,800 per year for 4 years regardless of need.

53. Police Officers & Firefighters
Police Officers and Firefighters Survivors Tuition Waiver
Waives tuition for child or spouse who demonstrates financial need.

54. Federal Perkins Loan Eligible students(priority to exceptional need)
Undergraduate or graduate students
College initiates and is the lender for repayment
Annual loan limit for undergraduates: $5,500
Interest rate: 5%
Nine-month grace period/10 yrs to repay loan
Deferment and cancellation provisions available
Colleges choose to participate or not

55. COMMON FEATURES OF FEDERAL STUDENT LOANS
The amount a student may borrow each academic year is based on their class level at time of application.
Repayment does not begin until 6 months after student graduates or enrollment drops to less than 6 credit hours a term (excludes Perkins)
Interest rates are fixed; rates are subject to change each July 1.
Standard repayment term is 10 years but flexible repayment terms may be available to students and parents

56. FEDERAL DIRECT STAFFORD LOAN
College determines loan eligibility and delivers loan to student’s account.
Subsidized Stafford: Must demonstrate financial need; gov’t pays interest
Unsubsidized Stafford: Financial need is not a consideration; family pays interest.
Can be used for EFC
Interest is added to the principal, not paid monthly

57. FEDERAL SUBSIDIZED DIRECT/STAFFORD LOAN
Annual loan limits ($5,500-$12,500 per yr.)
Subsidized: interest free while enrolled at least half-time and student must demonstrate “need”
3-5% fixed interest rate on loans first disbursed after July 1, 2011
10-25 years to repay the loan

58. FEDERAL UNSUBSIDIZED DIRECT/STAFFORD LOAN
Annual loan limits
Dependent Undergraduates - $5,500-$20,500
Financial need is not required.
Unsubsidized: interest accrues from the time loan is fully disbursed
10-25 years to repay loan
Can be used for EFC
3-5% fixed interest rate

59. FEDERAL PARENT PLUS LOAN
Borrowers are parents of dependent undergraduate students.
Family initiates and can be used for EFC.
Maximum Loan limits: cost of attendance minus other aid
Interest rate fixed at 7.21%
Repayment begins 60 days after funds are fully disbursed; may be deferred until student graduates (parent must request deferred option).
10-25 years to repay the loan
U.S. Gov’t is the lender.

60. Federal Work-Study Employment during school
Non-profit jobs only (on or off campus)
Income is taxable (state and federal)
Excluded from student’s total income on next year’s FAFSA
Program varies from school to school
Reimburses employer for percentage of student earnings.

61. Potential Scholarship Sources
Colleges
Companies/Families
Organizations
Menominee High School
Scholarships from these sources have varied criteria, application procedures, & deadlines. Students are responsible for pursuing many of them. Most require a submitted FAFSA for scholarship consideration.

62. College aid offers are everywhere - Internet - Mail - Newspapers
Warning to Your Students: Don’t Get Hooked by Misleading Scholarship Offers
College aid offers are everywhere
- Internet
- Mail
- Newspapers
- Magazines
- Telephone

63. Warning About Scholarships
Colleges can adjust a student’s aid package when scholarships are awarded to the student.
Often times loans, grants, and/or work study aid can be reduced. Call college.
Scholarship checks are made payable to both the student and the college; therefore, the college is aware of the scholarship.

64. Warning Signs of Scam High application fees Guaranteed winnings
Everybody is eligible
Masquerading as federal agency
Claims of government approval
Time pressure
Unusual requests for personal information

65. William & Marilyn Swanson Scholarship
AWARDED TO:
Two current seniors(one boy, one girl) at Menominee High school.
AWARDED AMOUNT:
$1500( may be partially renewable)
USED FOR:
College expenses at an accredited college/university on a 4-year program, any major

66. William & Marilyn Swanson Scholarship (cont)
CRITERIA:
G.P.A. of 3.0 or higher
Financial need
Extra-curricular activities and/or community activities/involvement
SELECTION COMMITTEE:
Swanson family committee
APPLICATION PROCEDURE:
Complete attached application and return it to the Guidance Office, with transcript, by Feb. 1

67. L.E. Jones Company/Catherine & Ame Vennema
AWARDED TO:
Current senior at Menominee High School
AWARDED AMOUNT:
$2500/year, renewable
USED FOR:
College expenses at an accredited college/ university in a 4 year program, any major

68. L.E. Jones Company/Catherine & Ame Vennema
CRITERIA:
High GPA
Strong ACT/SAT score
Financial need
Demonstrated leadership skills at MHS &/or in the community
SELECTION COMMITTEE:
The Peninsula Foundation
APPLICATION PROCEDURE:
Complete attached application and return to the Guidance Office with your essay, a transcript and 2 letters of recommendation, by Feb. 1

70. February 14, 2017

71. Local Scholarships Local Scholarship
One application form will be available for all Seniors to complete. Due Feb 14, Not late apps accepted.
This one form opens the door to over 40 local scholarships.
Recipients of the local scholarships are announced at the Academic Awards Recognition evening on May 22, 2017.
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72. Scholarship Sources fastweb.com scholarships.com
studentscholarship.com

73. Role of the College Financial Aid Office
Determines eligibility for financial aid
Packages aid
Sends an award notification which includes:
Student’s cost of attendance
Student’s EFC
Amount of student’s financial need
Programs and amount from each program for which the student is eligible
How and when aid will be disbursed
Terms and conditions of student’s award
Distribution of Loans

74. Application Process
Indicate interest in Financial Aid on college applications.
Complete F.A.F.S.A. on-line on October 1st.
Review Student Aid Report (S.A.R.) and make corrections if needed.
Compare award letters from colleges and accept one. – May

75. Who to Call????
Live Chat, , or phone via (Extremely helpful and open Monday-Saturday, late)
Call FED-AID ( )
College Financial Aid Office
MHS Guidance , ext. 223 or 224

76. To Do List
Make FSA ID for parent and student).
Write down FSA ID information for later use.
Use Career Cruising program
Go to FAFSA4caster to get estimates on EFC and aid.
Complete FOTW worksheet, if needed.
Use the “Net Price Calculator” at each college.
Remember: October 1st!!
List your TOP WANTED COLLEGE 1st on the FAFSA.
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